version 16.0
clear all
set more off  

set mat 11000
set maxvar 11000 
capture log close 



use "report_data.dta", clear 


/* T8 recommendataion */


reghdfe rec norm_tone all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize nonculture_senti lnnum_seg , absorb( i.gvkey##i.fyear ) cluster(gvkey amaskcd)

reghdfe rec norm_tone c.norm_tone#c.tot_cause_cons tot_cause_cons all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize nonculture_senti lnnum_seg , absorb( i.gvkey##i.fyear ) cluster(gvkey amaskcd)

/* T8 target price */


reghdfe ptg_scale norm_tone  all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize nonculture_senti lnnum_seg , absorb( i.gvkey##i.fyear ) cluster(gvkey amaskcd)

reghdfe ptg_scale norm_tone c.norm_tone#c.tot_cause_cons tot_cause_cons all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize nonculture_senti lnnum_seg , absorb( i.gvkey##i.fyear ) cluster(gvkey amaskcd)


/* T9 market reaction */

drop if report_date-close_rdq<=1 & report_date-close_rdq>=-1 

reghdfe abnretm1p1_madj norm_tone all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize size lnfirm_age salegr roa leverage tangibility vol_roa_ann ownership_large boardind ceo_cob nonculture_senti lnnum_seg eps_rev tp_rev rec_rev abnretp_madj , absorb( ff12 fyear ) cluster(gvkey amaskcd)

reghdfe abnretm1p1_madj norm_tone c.norm_tone#c.highce highce all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize size lnfirm_age salegr roa leverage tangibility vol_roa_ann ownership_large boardind ceo_cob nonculture_senti lnnum_seg eps_rev tp_rev rec_rev abnretp_madj if max_cause_cons360<., absorb( ff12 fyear ) cluster(gvkey amaskcd)

/* with filter of positive reviews / calls */

reghdfe abnretm1p1_madj norm_tone c.norm_tone#c.analyst_vs_executive analyst_vs_executive all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize size lnfirm_age salegr roa leverage tangibility vol_roa_ann ownership_large boardind ceo_cob nonculture_senti lnnum_seg eps_rev tp_rev rec_rev abnretp_madj if n_components_used>0, absorb( ff12 fyear ) cluster(gvkey amaskcd)


reghdfe abnretm1p1_madj norm_tone c.norm_tone#c.analyst_vs_employee analyst_vs_employee all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize size lnfirm_age salegr roa leverage tangibility vol_roa_ann ownership_large boardind ceo_cob nonculture_senti lnnum_seg eps_rev tp_rev rec_rev abnretp_madj if n_reviews_used>0, absorb( ff12 fyear ) cluster(gvkey amaskcd)

 
reghdfe abnretm1p1_madj norm_tone c.norm_tone#c.analyst_vs_others analyst_vs_others all_star female horizon_fpi gen_exp firm_exp fol_ind fol_firm fore_freq lnbrokersize size lnfirm_age salegr roa leverage tangibility vol_roa_ann ownership_large boardind ceo_cob nonculture_senti lnnum_seg eps_rev tp_rev rec_rev abnretp_madj if n_reviews_used>0 & n_components_used>0, absorb( ff12 fyear ) cluster(gvkey amaskcd)


